FTI Consulting Health Solutions Provides Game-changing Insights with Spotfire
Competitive Advantage Using Actionable Insights, Faster Implementations, Higher Productivity
With rapid change in healthcare, FTI wanted to provide fast, easily digestible, actionable data analytics. “We were looking to build automated solutions for our clients to reduce consulting implementation times as well as assist them in monitoring their operations,” says Mitchell Goldstein, director in FTI Consulting’s Health Solutions practice. “It was not uncommon for clients to call us back two to three years after our engagements because operational improvements were slowly eroding, and inefficient processes were becoming the norm. By building solutions to continuously monitor the client’s data, we could limit that risk as well as provide new clinical and operational insights for our clients.
“Our objectives were to increase revenue and decrease customer inefficiencies using new technologies,” continues Mr. Goldstein. “To grow our customer base, we had a couple of key objectives around our Analytics@Work solutions and services. “There are many excellent BI tools for analytics; however, most of our endusers do not have the technical skills or the time necessary to build healthcare data warehouses and robust tools for analysis. Our goal was to build turn-key, web-based solutions, which would quickly reveal performance improvement opportunities and guide clients to them.”
FTI spent several months researching, interviewing, and analyzing the top BI tools. “As we narrowed down our search, we performed several proof of concept exercises. We chose TIBCO Spotfire® and its robust API library and predictive modeling engine. We used it to quickly bring new, secure web solutions to market.”
FTI’s Analytics@Work team quickly launched Labor Analytics and Provider Analytics, the latter an interactive tool that models, measures, and manages physician performance. Additional solutions are being built for perioperative services, revenue cycle, and data warehousing for more in-depth data analysis of operational performance.
The company also performs consulting services for clients who require analytics strategy, data governance, predictive analytics, and in-house analytic implementation services.